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happened right in the middle of the freeway. tonight we spoke to woman who had a front row seat. doesn't get more bold than this. saturday afternoon about half dozen drivers took over 8 80 north near the oakland coliseum doing do nut and burning rub interwhat is called a side show. a lot of drivers caught up in the traffic jam not impressed. >> my friend and i were saying look at the idiots. they are stupid. they are going to get hurt. toward the end of the video i really got scared. i was contain of screaming. my god i this the it was going to hit the wall this. >>reporter: woman a passenger in a car heading south bound on 8 80 didn't want to be identified. it lasted few short minutes before somebody yelled at the police were on their way. people on both side of the freeway whipped out the cell phone camera. few got out of the cars in the middle of stopped traffic. >> it did blow my mind and i was really worried concerned that somebody was going to get hurt. with an accident or bystander might get hit by the car. because i don't think they are professional car drivers. >>rep
the housing bubble. >> this is a miracle in motion. we haven't seen this in probably seven years. >> reporter: housing prices up ten months in a row, up the most in phoenix, nearly 23%. so why are buyers lining up? for starters, interest rates are historically low. >> with mortgage rates so low, this was the best time. it was a steal. >> we're in the bottom right now, spinning out of it. and that fear gets everybody off the fence. >> reporter: while many americans are selling, some americans are sitting on the sidelines, waiting for their home value to recover completely. while it seems to economy is humming along, the country is still not out of the woods yet. government and private numbers due out today are expected to show anemic growth. rob? sunny? >> tahman bradley. thank you so much for joining us this morning. >> always good to have you live in the flesh, mr. bradley. >> good to see you guys. >> thanks for making the trip. >>> we also have breaking news from south korea. overnight, it answered north korea with a rocket launch of its very own. it put a research satellite into orbit afte
's cracking down on restaurant fraud. >> he won't say which restaurants have been pocketing money intended for employee health insurance, it's not clear just how much money is actually missing. >> mark matthews is on a famous restaurant row in north beach with the story. mark? >> we're here on columbus avenue across from washington square. the city attorney held a news conference to say restaurants have been adding a little surcharge to their bill. for... covering health care costs for healthy san francisco. the problem, he says some restaurants have been pocketing the money. >> this morn's news conference city attorney promised amnesty to restaurants that come clean and pay what they ow ee. this program seeks to remedy consumer fraud by a relative handful of restaurants and businesses. >> herera says fraud committed when restaurants hand over a bill to customers including a surcharge for health care coverage. >> he's thees establishments imposed surcharges on customers to cover the cost with san francisco's universal health care law that used little or no funds to provide benefits to thei
increase year to year in six years, home values up 5.5%. >> we haven't seen this in probably seven years. >> reporter: what has buyers lining up? in some cases outbidding one another. those historically low interest rates, lows not seen since the early 1970s. ten months in a row now of housing prices going up, up most in phoenix, nearly 23%. this home in scottsdale, arizona, it was listed a year ago at $275,000. she waited until now and sold it after three days on the market. the price, $365,000, nearly $100,000 more than the value last year. also on the seller's side, there aren't many houses out there. many americans who want to sell simply won't yet. they need to wait for their home values to recover completely. many still under water on their mortgage. >> nobody wants to go to the closing table and pay the bank to get out of the house. everybody is waiting it out until the value of the home increases a little bit more. >> reporter: as they wait to sell, many builders are trying to keep up with demand. look at this image from boca raton, florida. sorry, too late. sold. doug smith, a b
Search Results 0 to 3 of about 4